Teva Pharmaceuticals, the world's largest generic drug maker, saw its stock tumble after its 2024 earnings release. Despite tepid full-year 2025 guidance, the company reported strong Q4 2024 results, driven by growth in its generic and branded drug segments. Analysts remain optimistic, with a consensus price target significantly above current levels.
) is the world's largest generic drug maker, with over 500 generic and biosimilar treatments in its broad portfolio. The medical sector giant also has a line of branded drugs driving growth.
TEVA formed a symmetrical triangle with the upper descending trendline forming at the $22.80 swing high and the ascending lower trendline support forming at the $19.03 gap fill. TEVA chopped towards the apex point before gapping down on its earnings release to the $19.75 level and proceeding lower towards the $17.26 fib. Fibonacci pullback support levels are at $17.26, $16.83, $16.25 and $15.81.
Bullish investors can consider using cash-secured puts at the Fib pullback support levels to buy the dip. If assigned the shares, then writing covered calls at upside Fib levels executes a wheel strategy for income.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
TEVA PHARMACEUTICALS GENERICS STOCK MARKET INVESTING OPIOID SETTLEMENTS GROWTH
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